Apartment rents keep rising as summer heats up

Apartment rents continued to rise in July, according to the latest research from ABODO. But the median rent rose at a faster clip for two-bedroom apartments and at a slower rate for one-bedroom units.

ABODO reported that in July the median one-bedroom apartment rent across the country stood at $1,082. That is an increase of 4.54 percent from the same month one year earlier. But it’s also a slight drop from June, when the median one-bedroom rent was $1,087.

Two-bedroom apartment rents, though, continued to rise at a faster clip. ABODO reported that the median two-bedroom apartment rent hit $1,357 a month in July. That’s up a healthy 6.6 percent since January of this year.

Some notable numbers from the Midwest? In Cleveland, the median one-bedroom rent jumped from $760 in June to $802 in July. And in Columbus, Ohio, the median one-bedroom rent fell from $1,065 in June to $970 in July.

Cleveland also saw a monthly increase in median two-bedroom rents, with this figure rising from $761 in June to $790 in July. And in Nashville, the median two-bedroom rent fell from $2,009 in June to $1,915.